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Seminar

Economics Graduate Student Association Seminar Series

The Effects of a Financial Literacy Course on Financial Literacy

Date:
Time:
11:00 am
Louise Pound Hall Room: 222
512 N 12th St
Lincoln NE 68508
Additional Info: LPH
Contact:
Department of Economics, (402) 472-2319
Presented by Jamie Wagner.
Abstract:
Financial education has become a popular method to remedy the widespread financial illiteracy in the United States. As financial education programs increase there is a need to researchers to evaluate the effectiveness of financial education, however previous research has found mixed results. This paper will add to the literature by estimating the effects of taking one or more financial education courses (high school, college, employer, or some combination of the three) on financial literacy. This research also splits the population by education attainment—high and low education—to see if groups of people are affected by financial education differently. Data comes from a large nationally representative survey, the 2012 National Financial Capabilities Study (NFCS). The main result suggests that financial education does increase financial literacy and the effects are stronger for people with lower education. Therefore, financial education needs to start at a younger age before people can drop out of high school which will benefit policy makers advocating for personal finance in high school.

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This event originated in Economics.